STONY BROOK, N.Y.–(BUSINESS WIRE)–Applied
DNA Sciences Inc. (NASDAQ:APDN) (“Applied DNA” or the “Company”), a
leader in large-scale PCR-based DNA manufacturing, announced today that
two prior announcements by Israel Cannabis raise the opportunity for
uptake of Applied DNA’s CertainT® Cannabis Tagging platform
within the Israeli cannabis industry. Central to the opportunity are
agreements previously signed between Applied DNA and TheraCann
International Benchmark Corporation (“TheraCann”), and between TheraCann
and Israel Cannabis (“iCAN”).

On November 1, 2018, iCAN announced
the signing of a bilateral service agreement and strategic alliance with
TheraCann. The agreement will allow iCAN to offer TheraCann’s (and
hence, Applied DNA’s) technology to emerging markets in Europe, Africa
and Asia, while allowing TheraCann clients access to iCAN’s technology
pipeline and expertise.

“I’m excited to put TheraCann’s ETCH (Electronic Traceability for
Cannabis and Hemp) biotrace technology in front of the Israeli
government,” said Saul Kaye, Founder and CEO of iCAN. “The ability to
use DNA to tag and trace cannabis at any point in the supply chain is
the gold standard of diversion-control and IP-control.”

On December 26, 2018, iCAN announced
the approval by the Israel Parliament, or the Knesset, of the
exportation of medical cannabis.

Saul Kaye then included the following in his statement: “Israel’s
expertise in the field extends from cultivation and processing to
research and development. By law, Israeli companies will be subject to
strict supervision and maintain high medical grade standards. Israel is
perfectly positioned to enter and disrupt the medical cannabis market
that is expected to soar to $33 billion dollars worldwide in the next 5
years. In Israel alone, we quickly expect over $1 billion in sales to
countries interested in our products.”

The law provides a budget that allows the Interior Ministry and
specifically the Israeli Police, to monitor, track and control the
production and delivery of cannabis for export, and ensure there is no
risk of leakage to the local illegal drug market. iCAN, through its
partner TheraCann, has secured the technology that can power the police
and Ministry of Health in Israel and provide complete transparency and
tracking of every gram of cannabis both for export and the local market.

Dr. James Hayward, president and CEO of Applied DNA, stated today that:
“In combination, these two announcements by iCAN identify one of the
first opportunities for Applied DNA’s CertainT platform to be utilized
in the international cannabis marketplace. We look forward to working
with TheraCann to address new markets.”

About iCAN: Israel-CannabisiCAN is building the global
cannabis ecosystem. iCAN identifies and accelerates innovative medical
cannabis technologies and creates synergies and cooperation across the
industry. iCAN uses its global network and reach to position Israel as
the leading medical cannabis tech hub.

Common stock listed on NASDAQ under the symbol APDN, and warrants are
listed under the symbol APDNW.

Forward-Looking StatementsThe statements made by Applied
DNA in this press release may be “forward-looking” in nature within the
meaning of the Private Securities Litigation Act of 1995.
Forward-looking statements describe Applied DNA’s future plans,
projections, strategies and expectations, and are based on assumptions
and involve a number of risks and uncertainties, many of which are
beyond the control of Applied DNA. Actual results could differ
materially from those projected due to its history of net losses,
limited financial resources, limited market acceptance and various other
factors detailed from time to time in Applied DNA’s SEC reports and
filings, including our Annual Report on Form 10-K filed on December 18,
2018 and other reports we file with the SEC, which are available at www.sec.gov.
Applied DNA undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events, unless otherwise required by law.